Daewoo E&C Q1 2026: Operating Profit Turns Positive, Order Backlog Reaches 51.9 Trillion, Contingent Liabilities Remain High

Q1 2026 consolidated revenue KRW 1.95 trillion, operating profit KRW 255.6 billion (swing to profit from a loss of KRW 815.4 billion in full year 2025), net income KRW 195.8 billion.
Order backlog at end of quarter KRW 51.89 trillion (vs. total contracted amount KRW 77.83 trillion).
Debt ratio improved to 277.7% from 284.5% at year-end 2025; net debt ratio 36.5%. Total borrowings KRW 4.17 trillion, cash and equivalents KRW 2.02 trillion.
Credit enhancement outstanding for PF projects KRW 2.03 trillion; non-PF guarantees (e.g., housing sale guarantees) KRW 7.94 trillion.
Canceled 4,715,000 treasury shares on March 18, 2026 as part of shareholder return.
Major litigation/arbitration ongoing: Plaza Rakyat (KRW 349.7 billion), Algeria AOA etc. (KRW 156 billion), Kuwait KIPIC (KRW 216.4 billion), posing significant contingent risks.
Building segment accounted for 65.2% of revenue and 83.5% of operating profit, driving performance.